Ravenscourt Engineering Limited


Directors	H J Smart
	J H Smart


Registered Address	Freshford House
	Redcliffe Way
	Bristol
	BS1 6NL


Registered Number	02225089 (England and Wales)

Notes to the Financial Statements
for the year ended 31 March 2026

1.	Accounting policies

	Statutory information
	The company is a private company limited by shares and registered in England and Wales. The company's registered number and registered office address can be found on the Company Information page.

	Statement of compliance
	The financial statements have been prepared in accordance with the Companies Act 2006 and FRS 102 The Financial Reporting Standard applicable in the UK and Republic of Ireland including Section 1A Small Entities.

	Basis of preparation
	The accounts have been prepared under the historical cost convention and in accordance with FRS 102, the financial reporting standard applicable in the UK and Republic of Ireland (as applied to small entities by section 1A of the standard).

	Functional and presentation currency
	The financial statements are presented in sterling and this is the functional currency of the company. Figures are rounded to the nearest pound.

	Going concern
	At the time of approving the financial statements, the directors have a reasonable expectation that the company has adequate resources to continue in operational existence for the foreseeable future. Thus the directors have continued to adopt the going concern basis of accounting in preparing the financial statements.

	Turnover policy
	Turnover comprises the fair value of the consideration received or receivable for the sale of goods and for services provided in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts. The company recognises revenue when: the amount of revenue can be reliably measured; it is probable that future economic benefits will flow to the entity; and specific criteria have been met for each of the company's activities.

Turnover policy

Turnover comprises the fair value of the consideration received or receivable for the sale of goods and for services provided in the ordinary course of the company’s activities. Turnover is shown net of sales/value added tax, returns, rebates and discounts.
 
The company recognises revenue when:
the amount of revenue can be reliably measured;
it is probable that future economic benefits will flow to the entity; and 
specific criteria have been met for each of the company's activities.

	Defined contribution pension plan
	The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

Defined contribution pension plan

The company operates a defined contribution pension plan for the benefit of its employees. Contributions are recognised as expenses as they become payable. Differences between contributions payable in the year and those actually paid are recognised as either prepayments or accruals in the balance sheet. The assets of the defined contribution pension scheme are held separately from those of the company in an independently administered fund.

	Borrowing costs
	Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing. Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges. Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

Borrowing costs

Interest-bearing borrowings are initially recorded at fair value, net of transaction costs. Interest-bearing borrowings are subsequently carried at amortised cost, with the difference between the proceeds, net of transaction costs, and the amount due on redemption being recognised as a charge to the profit and loss account over the period of the relevant borrowing.
 
Interest expense is recognised on the basis of the effective interest method and is included in interest payable and similar charges.
 
Borrowings are classified as current liabilities unless the company has an unconditional right to defer settlement of the liability for at least twelve months after the reporting date.

	Foreign currency translation
	Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

Foreign currency translation

Transactions in foreign currencies are initially recognised at the rate of exchange ruling at the date of the transaction. At the end of each reporting period foreign currency monetary items are translated at the closing rate of exchange. Non-monetary items that are measured at historical cost are translated at the rate ruling at the date of the transaction. All differences are charged to profit or loss.

	Current taxation
	Current tax is recognised in the profit and loss. Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

Current taxation

Current tax is recognised in the profit and loss.

Current tax represents the amount of tax payable (receivable) in respect of taxable profit (loss) for the current, or past, reporting periods. Current tax is measured at the amount expected to be paid (recovered) using the tax rates and laws which have been enacted, or substantively enacted, by the balance sheet date. Where payments to HM Revenue and Customs exceed liabilities owed, an asset is recognised to the extent of the amount of tax recoverable.

	Deferred tax
	Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

Deferred tax

Deferred tax is recognised in respect of all timing differences between the recognition of income and expenses in the financial statements and their inclusion in tax assessments. Unrelieved tax losses and other deferred tax assets are recognised only to the extent that it is probable that they will be recovered against the reversal of deferred tax liabilities or other future taxable profits. Deferred tax is measured using the tax rates and laws that have been enacted or substantively enacted by the reporting date and that are expected to apply to the reversal of the timing difference, except for revalued land and investment property where the tax rate that applies to the sale of the asset is used. Current and deferred tax assets and liabilities are not discounted.

	Tangible fixed assets and depreciation
	All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows: Plant and machinery: 4-10 years (straight line) Fixtures and fittings: 4 years (straight line) Vehicles: 3 years (straight line)

Tangible fixed assets and depreciation

All fixed assets are initially recorded at cost. Property, plant and equipment is used in the company's principal activity for the production and supply of goods or for administrative purposes and is stated in the balance sheet under the historic cost model. This model requires the assets to be stated at cost less amounts in respect of depreciation and less any accumulated impairment losses. Depreciation is calculated so as to write off the cost of an asset, less its estimated residual value (which is the expected amount that would currently be obtained from disposal of an asset, after deducting the estimated costs of disposal, if the asset were already of the age and in the condition expected at the end of its useful life), over the useful economic life of the respective asset as follows:

Plant and machinery: 4-10 years (straight line)
Fixtures and fittings: 4 years (straight line)
Vehicles: 3 years (straight line)

	Investment property
	Investment property is carried at fair value, derived from the current market prices for comparable real estate determined by the directors. The directors use observable market prices, adjusted if necessary for any difference in the nature, location or condition of the specific asset. Changes in fair value are recognised in profit or loss.

	Stocks and work in progress
	Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss. Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

Stocks and work in progress

Stock is valued at the lower of cost and estimated selling price less costs to complete and sell. The cost methodology employed by the entity is the first-in first-out method. Estimated selling price less costs to complete and sell are derived from the selling price which the goods would fetch in an open market transaction with established customers less the costs expected to be incurred to enable the sale to complete. Provision is made for slow-moving and obsolete items of stock. Such provisions are recognised in profit or loss.

Work in progress is valued using the percentage of completion method and values are calculated using the lower of cost and estimated selling price less costs to complete and sell. When stocks are sold, the carrying amount of those stocks is recognised as an expense within cost of sales. This takes place in the same period that the associated revenue is recognised.

	Trade and other debtors
	Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

Trade and other debtors

Short term debtors are measured at transaction price (which is usually the invoice price), less any impairment losses for bad and doubtful debts. Loans and other financial assets are initially recognised at transaction price including any transaction costs and subsequently measured at amortised cost determined using the effective interest method, less any impairment losses for bad and doubtful debts.

	Cash and cash equivalents
	Cash and cash equivalents comprise cash at bank and on hand, demand deposits with banks and other short-term highly liquid investments with original maturities of three months or less. Bank overdrafts are disclosed separately.

	Trade and other creditors
	Short term creditors are measured at transaction price (which is usually the invoice price). Loans and other financial liabilities are initially recognised at transaction price net of any transaction costs and subsequently measured at amortised cost determined using the effective interest method.

	Share capital
	Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of new ordinary shares or options are shown in equity as a deduction, net of tax, from the proceeds.

2.	Average number of employees


		2026		2025
	Average number of employees during the year	19		20

3.	Tangible fixed assets

	Land & buildings	Plant & machinery	Vehicles	Fixtures & fittings	Total
	£	£	£	£	£
Cost or valuation
At 01 April 25	866,272	2,249,301	24,495	59,772	3,199,840
Additions	-	54,811	11,990	-	66,801
Disposals	-	(155,799)	-	(2,628)	(158,427)
At 31 March 26	866,272	2,148,313	36,485	57,144	3,108,214
Depreciation and impairment
At 01 April 25	-	2,073,888	24,495	57,207	2,155,590
Charge for year	-	69,291	1,649	836	71,776
On disposals	-	(155,799)	-	(2,628)	(158,427)
At 31 March 26	-	1,987,380	26,144	55,415	2,068,939
Net book value
At 31 March 26	866,272	160,933	10,341	1,729	1,039,275
At 31 March 25	866,272	175,413	-	2,565	1,044,250

4.	Investment property
	The property was valued as at 31 March 2026 by the directors on an open market basis.


		£
	Fair value at 01 April 25	825,000
	Fair value adjustments	37,500
	At 31 March 26	862,500

5.	Stocks

	2026	2025
	£	£
Work in progress	158,475	106,946
Total	158,475	106,946

6.	Debtors: amounts due within one year

	2026	2025
	£	£
Trade debtors / trade receivables	379,955	249,663
Other debtors	29,002	3,700
Prepayments and accrued income	99,521	91,077
Total	508,478	344,440

7.	Creditors: amounts due within one year

	2026	2025
	£	£
Trade creditors / trade payables	139,959	126,461
Bank borrowings and overdrafts	-	63,609
Taxation and social security	193,435	173,631
Other creditors	14,089	6,340
Accrued liabilities and deferred income	9,778	9,636
Total	357,261	379,677

8.	Creditors: amounts due after one year

	2026	2025
	£	£
Bank borrowings and overdrafts	-	149,070
Total	-	149,070


	Bank borrowings contain a fixed and floating charge and are secured against the property and undertaking of the company.

9.	Pension commitments
	Included in the balance sheet are unpaid pension contributions of £4,058 ( 2025 - £3,464)

10.	Related party transactions
	At the year end, the company owed £2,700 to an other related party being a trust shareholder. The balance is interest free and repayable on demand.

	Notes	2026		2025
		£	£	£	£
Fixed assets
Tangible assets	3		1,039,275		1,044,250
Investment property	4		862,500		825,000
			1,901,775		1,869,250
Current assets
Stocks	5	158,475		106,946
Debtors	6	508,478		344,440
Cash at bank and on hand		815,226		866,581
		1,482,179		1,317,967
Creditors amounts falling due within one year	7	(357,261)		(379,677)
Net current assets (liabilities)			1,124,918		938,290
Total assets less current liabilities			3,026,693		2,807,540
Creditors amounts falling due after one year	8		-		(149,070)
Provisions for liabilities			(101,382)		(90,926)
Net assets			2,925,311		2,567,544
Capital and reserves
Called up share capital			100		100
Profit and loss account			2,925,211		2,567,444
Shareholders' funds			2,925,311		2,567,544